Topic: Professor Bitcorn is right, BTC to $10 (Read 4815 times)
You have been warned, cut your loose
Or a parody of the bulltards.
Bingo
but I think theres an element of truth to it, on a serious note, I am genuinely bearish and we will make new lows, $10 sounds extreme but double digits isn't out the question, anyway back into character...It is already a functioning worldwide payment network backed by a 500million infrastructure,
We can use Professor Bitcorn's Crypto Currency Theory which states the underlying value of coins proportionally increases in infrastructure spending, yet decreases from the minting of new coins and is equal to total infrastructure expenditure divided by the coins in circulation, Divided by Pi.
So using these figures:
$500M in infrastructure and 13M coins in circulation
500 000 000/ 13 000 000 = 38.461538
38.461538 / 3.1415= $12.24304
Goofy name, even goofier advice.
How come he got the name Professor Bitcorn?
Obviously it's a derisive putdown but it's unclear where it first appeared.
I seemed to be used almost immediately both here at Bitcointalk and at Reddit and quickly became a meme of sorts, spawning countdown-to-$10 websites, a spoof Twitter account and getting prominent mention in his Wikipedia entry.
Like many memes the actual creator remains obscure.
Anyone have more info?
The good prof. came up with the meme, he called it "bitcorn" during the hearings.
Professor Bitcorn is wrong. 
Im going to buy all of it so all these theories of Bitcoin crashing at these low prices are stupid lol.
What kind of Professor is doing such shitty predictions? i hope he doesnt teach economy.
He is a faculty member in the Finance and Economics Department at Boston University where he teaches courses in banking, risk management and capital market activities.
http://en.wikipedia.org/wiki/Mark_T._Williams
Does that count as teaching economy?
I hope so this will happen. I can wait till early 2015 if needed. Would be awesome.
Nobody cares.
What kind of Professor is doing such shitty predictions? i hope he doesnt teach economy.
Now that price discovery has been slightly decentralised it would be significantly harder to rig the market again and we are potentially in a make it until you fake it moment. It seems to be doing pretty well so far and no doubt there will be some short term rallies in the future. Ultimately those conducting big OTC purchases will be the supreme bag holders.
I hope so this will happen. I can wait till early 2015 if needed. Would be awesome.
Wishful thinking at best. More likely a fantasy of delusion.
Or a parody of the bulltards.
I have read some interesting predictions about bitcoin but this one won't happen at all.
It's simple, a lot of people haven't been around for that long. They only see Bitcoin's price going down, so they think the big bubble is over. They don't even consider there have been quite a few bubbles before! They need to experience some bubbles first, before they see that prices do go back up afterwards.
All in all I agree. But Bitcoin is not a one-way street. There is no assurance that it will go up again.
What I think most people lack here is some patience. Bitcoins has risen from near-zero to multiple hundreds of $$$ in a very short period of time compared to any other traditional investment, yet people seem to demand further price increases every day. I think Bitcoin needs quite another few months to digest the latest rally.
ya.ya.yo!
Yeah well, of course it isn't a one-way street, but if it should still continue to succeed, I guess we haven't seen the top of the mountain. There's still untapped potential, quite a lot of it, actually. That's why I remain optimistic about Bitcoin's future!
How come he got the name Professor Bitcorn?
IIRC, one of his early tv appearances on the subject actually saw him refer to bitcoin as 'bitcorn', in such a way to suggest he knew absolutely nothing about the subject. Don't quote me on that, I could be wrong, but my understanding is that he did call it 'bitcorn' at one point because, well, he's a conditioned idiot who speaks first and checks facts later.
We need to get below ten dollars to shake out all the weak hands. Only then can a true, sustainable growth phase begin.
LOL
Last year $30 was the magical number that some people deemed necessary for capitulation. This represented the ATH of the Great Bitcoin Bubble that saw the price increase 30-fold.
Needless to say, it never fell that low. During the crash of 2013, following a smaller bubble that only saw a 20-fold increase, it briefly touched $50 between dead cat bounces but true capitulation occurred at $66.
During the crash from last December's little bubble that barely saw a 10-fold increase, it briefly touched $350 between bounces but capitulation appears to be occurring well over $400.
Ten bucks? LOL
Wishful thinking at best. More likely a fantasy of delusion.
I have read some interesting predictions about bitcoin but this one won't happen at all.
It's simple, a lot of people haven't been around for that long. They only see Bitcoin's price going down, so they think the big bubble is over. They don't even consider there have been quite a few bubbles before! They need to experience some bubbles first, before they see that prices do go back up afterwards.
All in all I agree. But Bitcoin is not a one-way street. There is no assurance that it will go up again.
What I think most people lack here is some patience. Bitcoins has risen from near-zero to multiple hundreds of $$$ in a very short period of time compared to any other traditional investment, yet people seem to demand further price increases every day. I think Bitcoin needs quite another few months to digest the latest rally.
ya.ya.yo!
bitcoin is heading back to where it came from, $0.000001
Not agree, you scammer
I have read some interesting predictions about bitcoin but this one won't happen at all.
It's simple, a lot of people haven't been around for that long. They only see Bitcoin's price going down, so they think the big bubble is over. They don't even consider there have been quite a few bubbles before! They need to experience some bubbles first, before they see that prices do go back up afterwards.
All in all I agree. But Bitcoin is not a one-way street. There is no assurance that it will go up again.
What I think most people lack here is some patience. Bitcoins has risen from near-zero to multiple hundreds of $$$ in a very short period of time compared to any other traditional investment, yet people seem to demand further price increases every day. I think Bitcoin needs quite another few months to digest the latest rally.
ya.ya.yo!
bitcoin is heading back to where it came from, $0.000001
I have read some interesting predictions about bitcoin but this one won't happen at all.
It's simple, a lot of people haven't been around for that long. They only see Bitcoin's price going down, so they think the big bubble is over. They don't even consider there have been quite a few bubbles before! They need to experience some bubbles first, before they see that prices do go back up afterwards.
All in all I agree. But Bitcoin is not a one-way street. There is no assurance that it will go up again.
What I think most people lack here is some patience. Bitcoins has risen from near-zero to multiple hundreds of $$$ in a very short period of time compared to any other traditional investment, yet people seem to demand further price increases every day. I think Bitcoin needs quite another few months to digest the latest rally.
ya.ya.yo!
I have read some interesting predictions about bitcoin but this one won't happen at all.
It's simple, a lot of people haven't been around for that long. They only see Bitcoin's price going down, so they think the big bubble is over. They don't even consider there have been quite a few bubbles before! They need to experience some bubbles first, before they see that prices do go back up afterwards.
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